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MOL AGM approves massive dividend payout, equating to 9% dividend yield
Hungary’s MOL has announced plans for a HUF220.4bn (€560mn) dividend payout for 2025, as the oil and gas giant seeks to maintain shareholder returns despite earnings cooling from their 2022 peak.
Nigerian petrol prices increase as naira-for-crude talks stall
Nigerian petrol prices have continued to rise as the country’s downstream oil and gas sector awaits a decision from the federal government on whether to continue the naira-for-crude deal.
Indian solar firm Prozeal Green Energy plans to raise $82mn via IPO
Indian solar EPC company Prozeal Green Energy plans to raise INR7bn ($82mn) through an initial public offering (IPO)
India’s energy growth to follow unique low-carbon path
India is expected to become an important player in global energy markets, following a distinct growth path marked by lower energy intensity, a diverse energy mix and expanding commodity imports, according to Wood Mackenzie's latest Horizons report.
Chinese firm wins project management deal for Iraq oilfield
Chinese company HQC has secured a contract to provide project management services for Iraq's West Qurna 1 oilfield
Beijing blocks BlackRock's Panama port deal amid US-China tensions
The proposed sale of two key Panamanian ports by Hong Kong-based CK Hutchison to a consortium led by BlackRock has hit a roadblock, as China exerts pressure to halt the deal.
Mexican authorities seize record fuel shipment in “Anti-Huachicol” operation
A recent confiscation of millions of litres of illicit fuel in Mexico has sparked discussions about the country's ongoing battle against fuel smuggling, widely known as "huachicol."
Inspired Evolution raises $239mn for investment in Africa's renewable energy sector
South African private equity firm Inspired Evolution, focussed on clean energy, has achieved financial close of its Evolution III Fund, raising $238mn for investment on the continent.
Uganda to see $2.81bn oil and gas investment in 2025
Uganda’s Petroleum Authority (PAU) has announced that oil and gas companies are expected to invest at least $2.81bn domestically in 2025 up from $2.44bn last year.
ADNOC subsidiary XRG completes acquisition of Galp’s stake in Mozambique’s Rovuma Basin LNG projects
XRG, a wholly owned subsidiary of the UAE’s Abu Dhabi National Oil Company (ADNOC), has completed its acquisition of Portuguese oil and gas company Galp Energia’s 10% interest in the Area 4 concession in Mozambique’s Rovuma Basin.
Serbia advances key oil pipeline project with Hungary
The Serbian government has approved the construction of a critical oil pipeline connecting Serbia to Hungary, aiming to secure the country’s energy future amid the looming threat of US sanctions on its national oil company, NIS.
US revokes Repsol, Eni, and Maurel et Prom Venezuela oil licences
The Trump administration has stripped oil majors Repsol, Maurel et Prom and Eni of Venezuela crude export licences, ratcheting up pressure on the regime of President Nicolas Maduro.
Cracks appear in EU plan to adopt Japan-style LNG model
The European Union is in the midst of assessing whether to adopt a “Japanese model” of direct investment in LNG projects as the bloc grapples with high energy prices and low gas storage levels.
Venture Global requests FERC permission to start Calcasieu Pass
The US’s second-largest LNG producer Venture Global has requested approval from federal regulators to begin operations at the firm’s Calcasieu Pass LNG export terminal and its TransCameron pipeline project in Louisiana.
Shell targets 5% annual increase in LNG sales over next 5 years
Shell is aiming for a 4-5% annual increase in LNG sales over the next five years, stated the supermajor’s finance chief, Sinead Gorman.
US postpones sanctions on Serbia's NIS for another 30 days
Negotiations have been ongoing between NIS representatives and US and Russian officials since the company was included in a broad package of US sanctions against Russia’s energy sector.
Saudi national afforestation programme to launch digital monitoring platform
Saudi Arabia's National Afforestation Programme will soon launch an electronic platform to monitor projects interactively and provide accurate, real-time reports to officials and stakeholders.
Panama revokes 128 ship registrations in crackdown on Russia and Iran’s shadow fleet carrying oil
Panama has intensified its crackdown on sanctioned vessels by revoking the registration of 128 ships, a move primarily targeting the "shadow fleet" facilitating oil exports from Russia and Iran.
Ghana secures $25bn climate deal in major public-private partnership
Ghana has struck a landmark $25bn agreement with the private sector to combat climate change and drive sustainable development, marking one of the largest nature-based initiatives globally.
US sends Kyiv an even harsher fourth version of the mineral deal
A new draft of the proposed US-Ukraine minerals deal has drawn criticism in Kyiv as the new demands are even harsher than the previous three versions.
Malaysian government under scrutiny over Sapura Energy financial crisis
The company’s debt started ballooning due to aggressive expansion strategies that started in 2018, when it sought external financing to sustain operations, taking on multi-currency loans from various financial institutions.
Elon Musk's Tesla turns to Saudi Arabia amid collapsing sales
US electric vehicle manufacturer Tesla Inc. will enter the Saudi Arabian market in early April 2025
Nigeria signs 2,600-MW solar module deal with LONGi Solar France for hydrogen hub
Nigeria has signed a 2,600-megawatt solar module supply agreement with LONGi Solar France in support of a major green hydrogen development located in Akwa Ibom State.
Hungary to expand energy cooperation with Russia, foreign minister says in live stream from Red Square
Hungary views the operations of its oil company MOL in Russia as highly successful and expects further expansion, Foreign Minister Peter Szijjarto said during his visit to Moscow.
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